CARY, North Carolina, August 31, 2010 /PRNewswire/ -- Sapiens International Corporation (http://www.sapiens.com/) N.V. , a global provider of innovative software solutions for the insurance industry (http://www.sapiens.com/Insurance_Solutions.htm), and a member of the Formula Group , announced today that it has been selected by Vision Super, an Australian superannuation fund, serving predominantly local government employees, to deliver its core administration platform on a Windows server environment.
The project is scheduled go live by end of 2010 in conjunction with a local distributor. Sapiens will help Vision Super port its administration system on to a Windows server environment, resulting in a dramatic reduction on the overall cost of ownership
We came out of an independent systems review where the Sapiens platform for Superannuation was given a clean bill of health, said Geoff Pell, Manager Business Systems at Vision Super. A strong recommendation was put forward to reduce the overall cost of ownership by moving this platform to run on a Windows server environment. We approached Sapiens to explore this avenue further and I was pleased that Sapiens could provide the path for this migration. They also had proven market traction, with customers running large transaction-heavy systems on this architecture. This gave us the confidence to select Sapiens as the service provider to support our growth plans and increase our member base over the coming years.
We are pleased to have provided Vision Super with a solution that will both support their growth plans and reduce their total cost of ownership, said Mr. Raj Ghuman, Vice President of Operations and Business Development at Sapiens. This project is a testimony to our innovative spirit. We are committed to developing technology that answers our clients' demands as their businesses grow, and propels the industry forward.
About Vision Super
Vision Super has been providing superannuation to Victorian local government and related industries including water, libraries, cemeteries, crematoria and community services for over 60 years. Today the Fund is one of Australia's leading industry superannuation funds with over 2,000 participating employers, over 100,000 members and approximately $4.0 billion under management.
Vision Super Pty Ltd is the trustee of three separate entities: - Local Authorities Superannuation Fund, the principal super fund for employees of Victorian local authorities. - Vision Superannuation Fund, providing personal super and pension products to members of the public, and - Vision Pooled Superannuation Trust, which houses the investments of the above funds.
Vision Super Pty Ltd operates under both an Australian Financial Services License and an APRA RSE Extended Public Offer License. Vision is genuinely different to the majority of other super funds in several ways:
- It is self-sufficient, being internally administered, owning its own administration system and operating as a manager of investment managers. - It aims to retain its members for life, by providing its own range of retirement products together with, in-house, financial advisory services at no extra cost to members. - The Vision Superannuation Fund was launched in February 2007 offering both personal super and a range of retirement income stream products to members of the general public.
About Sapiens International
Sapiens International Corporation N.V. is a leading global provider of business solutions for the insurance industry, helping modernize business processes and enabling insurance organizations to adapt quickly to change. Sapiens' innovative solutions are widely recognized for their ability to cost-effectively align IT with the business demands for speed, flexibility and efficiency. Sapiens operates through its subsidiaries in North America, the United Kingdom, EMEA and Asia Pacific. For more information, please visit http://www.sapiens.com or call +44.1895.464.000.
Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties, including such factors, among others, as market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the Company's accounting policies, specific system configurations and software needs of individual customers and other risk factors detailed in the Company's SEC filings.
Media Contact: Osnat Segev-Harel Chief Marketing Officer Sapiens International Tel: +972-8-938-2721 email@example.com
SOURCE: Sapiens International Corporation N.V
CONTACT: Media Contact: Osnat Segev-Harel, Chief Marketing Officer,Sapiens International, Tel: +972-8-938-2721, firstname.lastname@example.org